Paytm’s annual loss doubles to $549M – gpgmail

Running a payments business in India is not cheap. Just ask Paytm . One of India’s largest payment companies reported a net loss of Rs 3959 crore ($549 million) for the financial year that ended in March, up 165% over 1490 crore ($206 million) in the same period last year. During the same period, the […]

Troubles keep mounting for the We Company as Softbank reportedly calls for shelving the IPO – gpgmail

The troubles for We Company and its main business WeWork are mounting as the Financial Times is reporting that the company’s main backer, Softbank, is pushing for the company to put its troubled public offering on hold. Citing sources familiar with the company and its main investor, the Financial Times said that the cool reception We Company has […]

We Company reportedly mulls slashing its valuation ahead of its initial public offering – gpgmail

The Wall Street Journal is reporting that the company formerly known as WeWork is considering slashing its valuation as it looks to woo public market investors. The company is reportedly considering a valuation of somewhere in the $20 billion range for its initial public offering, a figure that’s far less than the $47 billion valuation it […]

Kaszek Ventures raises $600 million in two funds as Latin America’s startup market booms – gpgmail

Kaszek Ventures, the investment firm that has been one of the primary architects of the recent boom in startup financing and growth in Latin America, has just raised $600 million across two new funds. The new commitments (raised in roughly two months) put Kaszek’s total capital under management at roughly $1 billion, making the firm […]

SoftBank reportedly plans to lend employees as much as $20 billion to invest in its VC fund – gpgmail

SoftBank has a plant to loan up to $20 billion to its employees, including CEO Masayoshi Son, for the purposes of having that capital re-invested in SoftBank’s own Vision venture fund, according to a new report from the Wall Street Journal. That’s a highly unusual move that could be risky in terms of how much […]

WeWork reveals IPO filing – gpgmail

WeWork, now known as The We Company, released its IPO prospectus Wednesday morning months after filing confidentially to go public. Backed by billions by SoftBank and its mammoth Vision Fund, the exit is expected as soon as next month. The New York-based company, valued at $47 billion earlier this year, has long been rumored to […]

Cybereason raises $200 million for its enterprise security platform – gpgmail

Cybereason, which uses machine learning to increase the number of endpoints a single analyst can manage across a network of distributed resources, has raised $200 million in new financing from SoftBank Group and its affiliates.  It’s a sign of the belief that SoftBank has in the technology, since the Japanese investment firm is basically doubling […]

SoftBank-backed Fair taps three executives to lead vehicle subscription app expansion – gpgmail

Fair, the vehicle subscription startup backed by SoftBank, is loading its executive team with veterans in the tech, venture and automotive industries as it seeks to build out its Uber leasing program and expand beyond North America. Fair.com today announced three key hires to lead the development of its car subscription app, financing department and […]

SoftBank pumps $2B into Indonesia through Grab investment, putting it head to head with Gojek – gpgmail

Grab — the on-demand transportation app worth $14 billion that is the Uber of Southeast Asia — today announced how it would be using some of the $7 billion or so that it has raised to date: $2 billion provided by SoftBank is being earmarked Grab’s operations in Indonesia — the biggest economy in Southeast […]

SoftBank’s second act – gpgmail

Hello and welcome back to Startups Weekly, a weekend newsletter that dives into the week’s noteworthy startups and venture capital news. Before I jump into today’s topic, let’s catch up a bit. Last week, I noted some challenges plaguing mental health tech startups. Before that, I wrote about Zoom and Superhuman’s PR disasters. Remember, you […]